question archive PART 1: Lauder company had fixed costs of $282,500, variable costs of $645,000, and actual sales amounted to $1,100,000
PART 1: Lauder company had fixed costs of $282,500, variable costs of $645,000, and actual sales amounted to $1,100,000
Subject:AccountingPrice: Bought3
PART 1: Lauder company had fixed costs of $282,500, variable costs of $645,000, and actual sales amounted to $1,100,000. If company has a break-even point at $750,000 in sales revenue.
a. determine the margin of safety expressed in dollars
b. determine the margin of safety expressed as a percentage of sales. Enter percentage amount as a whole number.
____%
c. Determine contribution margin ratio
_____%
d. Determine the operating income
$______
PART 2:
The following data relate to direct labor costs for the current period:
|
Standard costs |
36,000 hours at $23.50 |
|
Actual costs |
35,000 hours at $23.00 |
What is the direct labor time variance?
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PART 3:
Standard and actual costs for direct materials for the manufacture of 1,000 units of product were as follows:
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Actual costs |
1,450 lbs. @ $8.10 |
|
Standard costs |
1,500 lbs. @ $8.00 |
Determine the (a) quantity variance, (b) price variance, and (c) total direct materials cost variance.
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a. Quantity variance |
$ |
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b. Price variance |
$ |
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c. Total direct materials cost variance |
$ |
